Last year was record breaking for the cybersecurity market. Data from Momentum Cyber, a financial consulting firm for the security industry, showed that cybersecurity startups raised a record $29.5 billion in venture capital in 2021, more than doubling the $12 billion raised in 2020. , while a record number – including Dragos and Noname Security – were beaten like unicorns.

Recent months have begun to paint a different picture for the industry, which has successfully weathered the pandemic, geopolitical conflict and – so far – the looming economic storm.